Commercial BPO's are getting more popular nowadays. Owners and Banks are in need to have a good idea of the value of their properties on the spot. I have prepared several for owners and financial institutions and I would like to share the Table of Contents any BPO's must have:
The summary should be the short description of the price opinion of the study performed with the magic number in bold.
You should also write an introduction or background of the company/broker performing the BPO.
The subject property must be described in detail, indicating all the relevant features about the property such as type of structure, roof, parking type, number of parking spaces, leasable area, gross building area, lot area, landscaping, etc. also this section must include at least one good picture of the property.
You should also present the demographics including the Retail/office snap shot.
Before performing the BPO analysis itself you must present the leasing activity and the sales comparables in the area which should be defined between 5 and 10 miles depending on the demographics.
Puting it all together: Once you have all of the above you just have to crunch the numbers and do a CAP approach and a sales comparable approach and come out with a range of value.
It is important to prepare maps and good pictures of the property and surroundings.
I hope this would be of some help for my fellow colleagues.
Thanks,
JM Padron, CCIM
BPO Table of Contents
1. SUMMARY
2. INTRODUCTION
3. SUBJECT PROPERTY
4. DEMOGRAPHICS
5. LEASING ACTIVITY
6. COMPARABLES
7. BROKER PRICE OPINION
EXHIBIT "A" Demographics
EXHIBIT "B" Leasing Activity
EXHIBIT "C" Leasing Adjustments
EXHIBIT "D" Comparables
EXHIBIT "E" Pictures and Maps
FIRST COMMERCIAL-ONLY REAL ESTATE OFFICE OPENS
RE/MAX Commercial Associates Opens Doors to Commercial Business
(Fort Lauderdale, FL, June 08, 2009) - RE/MAX Commercial Associates recently opened the doors of the first commercial-only real estate franchise in the state of Florida, proving that the real estate market downturn hasn't kept some real estate Broker/Owners from finding success.
The new office, located in the heart of the Fort Lauderdale Business District, boasts five senior RE/MAX Associates that specialize in each of the major commercial property types including office, retail, industrial, multifamily and hospitality.
RE/MAX Commercial Associates Broker/Owner JM Padron knows that his office serves a unique niche and provides service for a specialized commercial real estate market in and around Fort Lauderdale.
"The Fort Lauderdale community continues to grow and we believe there's a need for a commercial-only real estate office in this market," said JM Padron who has more than 10 years of experience in the real estate business. "Our seasoned agents know the local market and have the knowledge and experience to help consumers through complicated commercial transactions. Our friends and neighbors trust the RE/MAX brand and know that we'll deliver great results that will help commercial buyers and sellers as well as Landlords and Tenants in this community."
RE/MAX Commercial Associates, Marc Oram, Nicole Tilson, Michael Eisner and Padron himself, have or are working to earn their CCIM certification and have met the RE/MAX Commercial requirements for becoming part of this global network of 330 RE/MAX Commercial offices worldwide.
JM Padron also owns and operates RE/MAX Premier Associates in Weston, FL, with over 50 residential and commercial agents.
For more information on RE/MAX Commercial Associates or to contact an agent, visit www.floridacommercialassociates.com or call (954) 703-2021. For more information on RE/MAX Premier Associates, to contact an agent or to look through property listings, visit www.southfloridapremier.com.
RE/MAX Commercial Associates
RE/MAX Commercial Associates is the first Commercial only Franchise in Florida. Located in the heart of the Fort Lauderdale Business District, RE/MAX Commercial Associates has the local market knowledge and a global network with more than 330 offices worldwide. Experienced brokers specialize in each of the major property types including: office, retail, industrial, multifamily and hospitality. Affiliations and specializations include: CCIM, NAIOP, ICSC, SOCR, Ft. Lauderdale Chamber of Commerce, Florida Association of Realtors, IREM, National Association of Realtors, and Broward Alliance.
Contact
JM Padron, CCIM, CRB
President
RE/MAX Commercial Associates
(954) 703-2021
Commercial BPO's are getting more popular nowadays. Owners and Banks are in need to have a good idea of the value of their properties on the spot. I have prepared several for owners and financial institutions and I would like to share the Table of Contents any BPO's must have:
BPO Table of Contents 1. SUMMARY 2. INTRODUCTION 3. SUBJECT PROPERTY 4. DEMOGRAPHICS 5. LEASING ACTIVITY 6. COMPARABLES 7. BROKER PRICE OPINION EXHIBIT "A" Demographics EXHIBIT "B" Leasing Activity EXHIBIT "C" Leasing Adjustments EXHIBIT "D" Comparables EXHIBIT "E" Pictures and Maps
The summary should be the short description of the price opinion of the study performed with the magic number in bold.
You should also write an introduction or background of the company/broker performing the BPO.
The subject property must be described in detail, indicating all the relevant features about the property such as type of structure, roof, parking type, number of parking spaces, leasable area, gross building area, lot area, landscaping, etc. also this section must include at least one good picture of the property.
You should also present the demographics including the Retail/office snap shot.
Before performing the BPO analysis itself you must present the leasing activity and the sales comparables in the area which should be defined between 5 and 10 miles depending on the demographics.
Puting it all together: Once you have all of the above you just have to crunch the numbers and do a CAP approach and a sales comparable approach and come out with a range of value.
It is important to prepare maps and good pictures of the property and surroundings.
I hope this would be of some help for my fellow colleagues.
Thanks,
JM Padron, CCIM
Listing ID: 2009942
Property Type: Office For Sale
Property Subtype: Medical, Net Leased
Sale Price: $1,600,000
Unit Price: $271.60 Per SF
Sale Terms: Owner Financing
Listing Name: Medical/Professional Office Stand Alone
Building
Tax ID Number/APN: 34-43-44-08-20-000-0050
Office Type: Medical, Net Leased, Office Building
Property Use Type: Investment, Net Leased Investment (NNN)
Zoning: MF3/SE
Building Name: 1441 Forest Hill Blvd
Class of Space: Class A
Gross Building Area (GBA): 6,300 SF
Building Size (RSF): 5,891 SF
Total Land Size: 0.7 Acres
Sale Price: $1,600,000
Sale Terms: Owner Financing
Cap Rate: 7.4%
Market Type: Medium
Property Located Between: Forest Hill Blvd. just west of I95
Side of Street: North
Road Type: 2-Track
Property Visibility: Excellent
Highway(s) Access: Just feets from I95
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,981
Year Built: 1996
Parking Type: Surface
Parking Description: Ample parking at the east side and west side
of the building
Total Parking Spaces: 40
Zoning Description: Medical/Professional Office Legal Description: LAKE CLARKE NORTH LT 5 (LESS SLY 3.48 FT
SR 882 R/W) LT 6 (LESS SLY 9.92 FT SR882
R/W) & LT 7 (LESS SLY
Property Overview
Class A one story office building for medical/professional use,
divided in three office spaces: two end spaces for medical/
professional use with independent east and west lobby entrances
and an inner space built for a Dentist office with all piping and
electrical in place. The three spaces are completely built with high
quality interior finishes.
Excellent location on Forest Hill Boulevard just off I95.Two
entrances: one from Lake Clark Drive and one from Shore Drive. Lake
Clark is off Forest Hill Boulevard, a major highway.
Property Details
General Information
Area & Location
Building Related
Land Related
Medical/Professional Office Stand Alone Building
1441 Forest Hill Boulevard, West Palm Beach, FL 33406
The information presented herein is provided as is, without warranty of any kind. Neither RE/MAX COMMERCIAL ASSOCIATES nor Catylist Real Estate Software, Inc. assume any liability for
errors or omissions.
Page 1
Real Estate Taxes -
Annual($):
$23,554
Tax Value Year: 2009
Net Operating Income: $117,820
Actual or Proforma Year: Proforma
Loan Amount: $1,040,000
Down Payment: $560,000
Address: 1441 Forest Hill Boulevard
West Palm Beach, FL 33406
County: Palm Beach
MSA: Miami-Fort Lauderdale-Pompano Beach
Financial
Location
Property Images
Side View West Entrance
The information presented herein is provided as is, without warranty of any kind. Neither RE/MAX COMMERCIAL ASSOCIATES nor Catylist Real Estate Software, Inc. assume any liability for
errors or omissions.
Page 2
East Entrance
Property Contacts
Jm Padron
RE/MAX COMMERCIAL ASSOCIATES
200 S Andrews Ave, Ste 102
Fort Lauderdale, FL 33301
(954) 703-2021
jpadron@remax.net
Mark G Dreyer
RE/MAX COMMERCIAL ASSOCIATES
200 S Andrews Ave
Ste 102
Fort Lauderdale, FL 33301
(954) 703-2021
mdreyer@thedreyergroup.net
The information presented herein is provided as is, without warranty of any kind. Neither RE/MAX COMMERCIAL ASSOCIATES nor Catylist Real Estate Software, Inc. assume any liability for
errors or omissions.
Page 3
Mark Dreyer, JOINS REMAX COMMERCIAL ASSOCIATES AS COMMERCIAL INVESTMENT ADVISOR
Fort Lauderdale, Florida - RE/MAX Commercial Associates, a full service commercial real estate firm, is pleased to announce that Mark Dreyer has joined as a Commercial Investment Advisor. Mark will be handling leasing, acquisitions and dispositions of Medical facilities.
Prior to joining RE/MAX Commercial Associates, Mark was a Commercial Realtor with Keyes Realtors in Boca Raton, Florida. Mark's experience and diverse background as a developer and a professional in business development compliments his Real Estate career. Mark has been with both IBM and Xerox for a total of 23 years with his last position being IBM Worldwide Software Sales Director in 2008. Mark was also the founder and CEO of Imaging Solutions Inc, which was sold in 2000. His Real Estate experience includes managing partners of the Preserves of Victoria Park, LLC and Key West of Victoria Park, both built and sold in 2005. Mark graduated from Florida International University.
During his career, Dreyer has developed the knowledge and the expertise to consistently exceed his client's expectations.
RE/MAX Commercial Associates is the first Commercial only Franchise in Florida. Located in the heart of Fort Lauderdale's Central Business District, RE/MAX Commercial Associates has the local market knowledge and a global network with more than 330 offices worldwide. Experienced brokers specialize in each of the major property types, including, office, retail, industrial, multifamily and hospitality. Affiliations and specializations include, CCIM, NAIOP, ICSC, SOCR, Fort Lauderdale Chamber of Commerce, Florida Association of Realtors, IREM, National Association of Realtors and the Broward Alliance.
Palm Beach Commercial Real Estate, Palm Beach, Broward & Miami-Dade Counties, specializing in Shopping Centers (Retail), represents Tenants and Landlords. Acquisitions, dispositions, leasing & PM
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